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NYC Employment Hits Record High, Unemployment All-Time Low

Private sector employment growth across New York City rose sharply in September, adding 24,500 jobs from the prior month, the New York City Economic Development Corporation said this week. Government jobs rose by 700, pushing total employment in New York City up 25,200 to 4,519,000, and bringing citywide employment above 4.5 million for the first time.

Conversely, the unemployment rate continued falling to a new low in New York City, hitting 4.0% in September, compared to 4.5% a year ago. Hourly earnings also made above average gains, increasing 2.8% from the year-ago period to $36.57.

Education, a historically volatile sector, led growth, adding 8,400 jobs in September. Growth was strong even excluding education, though, with healthcare & social assistance and information services adding 7,400 and 3,800 jobs, respectively.

Job losses were concentrated in wholesale trade, retail trade, and professional, scientific & technical services, which lost 2,000, 1,500, and 900 jobs, respectively.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Economy
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